Just Engaged and Proposals

Insuring your ring?

Just wondering how this works?
Do we insure my ring under our homeowners policy or choose a seperate jewelry policy to cover it?
What have you done or are doing? Thanks

Re: Insuring your ring?

  • I have a rider on our homeowners policy for mine. It was the easiest way for us to go about it and also means one less bill to keep track of. You can either take the purchase reciept or get an appraisal and take a copy of that to your insurance agent/company and they'll add it right on for you if you go the homeowners route. 
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  • I have a completely separate policy for my ring.  Since I got it where I have my car insurance and renter's insurance I just get one lump bill.  Speak to your insurance representative, having a separate policy was better for me, since it covered more options and was overal more cost effective.    You need to get an appraisal of your ring though, because you want information on the cut, clarity etc. of your ring.  You also don't want to get what you paid for it, you want to be able to get your actual ring replaced, value will obviously go up.
  • I added a rider to the homeowners policy. I did have to take the appraisal and the ring to the insurance office to get it added though.
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  • We added it to the homeowner's as well.. Although we didn't need to get it appraised. 
  • FI got it through our agent who handles our car and home insurance although it was seperate. He needed to provide an appraisal certificate, but the insurance was only $40 a year so easy enough to pay in one payment since it is seperate!

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  • Thanks so much ladies for the help! I have an appt tomorrow to get the ring appraised and then I'll call the insurance company
  • My ring is insured on its own insurance which was pretty reasonable. My FI surprised me with a trip to Paris to propose so the jeweler recommendate that he insure the ring seperatly becasue of the traveling. Also at the time of engagement we were not living togethe so it woul dhve been a hassle for him to add it to his insurence then switch it mine.
  • We put the ring on a seperate personal property policy in both our names.  Putting it on the homeowner's insurance got tricky because FI is not on the home, the deductible was $1,000 vs. $100 for personal property, and we could add other things to our personal property policy like my DSLR camera and his band equipment.  Overall ended up costing $30/year which was same price offered by our jewler.  
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